FBI Finds Alleged Scammer Stanford: “The billionaire banker accused of scamming $8 billion, R. Allen Stanford, was located by FBI officials today and served with civil papers by the SEC, putting an end to a nationwide search.”

When the Financial World Almost Stopped: “We were having an electronic run on the banks. They decided to close the operation… If they had not done that, their estimation is that… within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it.”

Very scary, indeed. When will the next crisis occur, and how long will it take before we all find out?

Growing List of Banks Scammed By Madoff: “Britain’s HSBC Holdings Plc was the latest bank to join the growing list, saying it had exposure of around $1 billion, making it one of the biggest victims of the alleged $50 billion fraud.”

Those British banks must be getting tired of falling victim to Wall Street’s shenanigans.